Universal Sompo Individual Personal Accident Policy
Universal Sompo General Insurance is a joint venture between Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Dabur Investments and Sompo Japan, an insurance company from Japan. With multiple stakeholders, the company gets the advantage of access to a huge database of customers. The company offers insurance products in Property, Marine, General Accident, Workmen Compensation and Motor.
Toll Free line: 1800-22-4030/1800-200-4030
E-mail: contactus@universalsompo.com
This policy offers compensation in case of death or bodily injury to the insured person, directly and solely as a result of an accident, by external, visible and violent means.
Unique Features of Individual Personal Accident Policy
Accidental Death - In event of an accident, if the insured dies then 100% of the sum insured will be payable.
Permanent Total: It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Permanent Total Disablement resulting from an accident.
Educational Fund: In the event of the death or permanent total disablement (PTD) of the Insured Person due to an accident as defined in the Policy, the Company shall pay the education fund for the dependent Children
Carriage of Dead Body: The policy also covers expenses incurred for carriage of dead body from place of accident to the residence
Damage to Clothes: Cost of Clothing damaged in the Accident as described above and liability is admitted to the insurance company.
Medical Expenses: Hospitalization expenses due to Accident resulting in claim for Death / Disablement.
Eligibility Criteria for Individual Personal Accident Policy
| Category | Details | ||||||
|---|---|---|---|---|---|---|---|
| Age Group | Min Entry Age: 5 Years Max Entry Age: 65 Years | ||||||
| Renewal Age | Life Long Renewal | ||||||
| Sum Insured | Up to 5 times of Yearly Income Basic Cover - Covers against Death Wider Cover - Covers against Death, Permanent Total Disability & Permanent Partial Disability. Comprehensive Cover - Covers against Death, Permanent Total Disability, Permanent Partial Disability & Temporary Total Disability. |
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| Policy Tenure | 1 Year | ||||||
| Family Definition | Individual & Family - Self, Spouse, Parents & Children | ||||||
Product Benefits of Individual Personal Accident Policy
| Benefits | Description | |||||||
|---|---|---|---|---|---|---|---|---|
| Accidental Death | 100% of Sum Insured | |||||||
| Permanent Total Disability | 100% of Sum Insured | |||||||
| Permanent Partial Disability | As per the limits specified in the table | |||||||
| Temporary Total disablement | 1% of SI or Rs. 5000 whichever is less, for 104 weeks | |||||||
| Transportation cost for carriage of dead body to Home including funeral charges | 1% of SI or 2500 whichever is less | |||||||
| Cost of Clothing damaged in the Accident | Actual expenses; maximum of Rs. 1000 | |||||||
| Ambulance charges | Actual expenses; maximum of Rs. 1000 | |||||||
| Education Fund | 5% of SI; maximum Rs. 15000 | |||||||
| Loss of Employment | 2% of SI; maximum Rs. 25000 | |||||||
| Loyalty Discount | In the event there is no claim, the sum insured will be increased by 5%, subject to a max of 15%. | |||||||
Add-ons for Individual Personal Accident Policy
| Add-ons | Details | ||||
|---|---|---|---|---|---|
| Medical Expenses Extension | 40% of PA claim or Actual Medical Expenses, whichever is less | ||||
| Hospital Confinement Allowance | Rs. 500 per day for maximum 30 days |
Additional discounts for Individual Personal Accident Policy
| Discounts | Details | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Family Discounts: | If More than 3 persons are insured - 10%, if more than 4 persons are insured - 12.5%, if more than 5 persons are insured -15%) | ||||||||||
Exclusion in Individual Personal Accident Policy
- War, invasion, act of foreign enemy, hostilities (whether war be declared or not) civil war, rebellion, revolution, insurrection, mutiny military or usurped power, confiscation, seizure, capture, assault, restraint, nationalization, civil commotion or loot or pillage in connection herewith.
- Ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this exclusion, combustion shall include any self-sustaining process of nuclear fission.
- The radioactive, toxic, explosive or the hazardous properties of any nuclear assembly or nuclear component.
- Air travel except as a passenger on a recognized airline operating on regular scheduled air routes and air travel by any charter aircraft duly licensed as a recognized air carrier and flown by professional crews between properly established and maintained airports.
- Participation in any kind of motor speed contest (including trial, training and qualifying heats)
- This Insurance does not cover any loss, damage, cost or expense directly or indirectly arising out of a) Biological or chemical contamination
- b) Missiles, bombs, grenades, explosives due to any act of terrorism
Claim Process for Individual Personal Accident Policy
In case you would like to know about the Claim Process or would like to register a Claim please click the link below
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